Why is my Residential Energy Credits carryover from 2022 not showing on form 5695 for 2023?

[arcsheridan]

I recently had to amend my 2022 taxes because I forgot to include the large cost of replacing our exterior windows for the Residential Energy Credits.  I should have received a $600 credit because of the cost of the windows (considering the 30% rule) however when I amended my 2022 taxes it only gave me a $200 credit.  I spoke with someone at TurboTax and they said once I filed the amendment the remaining credit would carryover for 2023 and would show up on form 5695 however nothing is on that carryover line- It is blank.  How can I receive the $400 I am owed?  It seems that a lot of people have had issues with this form. 

[AnnetteB6]

If you had already started your 2023 return before you completed the 2022 amended return, then the carryover amount would not have automatically been entered.  You would need to start the 2023 return again from scratch and re-import the 2022 return to get the number to transfer automatically.

That being said, there is a place where you can enter the carryover amount yourself to still get the credit.  Go to Deduction & Credits > Your Home > Home Energy Credits and go through the screens until you see a question about having any carryover credits.  Answer 'yes' and enter the amount of the carryover.  

[arcsheridan]

It is not a matter of it being automatically entered.  I downloaded my 2022 amended tax return and checked the form manually and the carry forward line on my 2022 5695 form is blank. 

[AnnetteB6 · Accepted solution]

Looking back at the 2022 rules for claiming a home energy credit based on installing exterior windows, the maximum credit that you could receive was $200 (or 10% of the cost up to a maximum of $2000).  Also, if you had not been able to claim the full amount of the credit, there was no carryover available for that type of energy credit.  The carryover only applied to installing a solar energy system.

The information that was shared with you stating that the maximum credit should have been $600 is the updated rules starting with 2023.  There were significant changes in home energy credits for 2023.

If your amended return showed you would get a $200 credit, that is the best possible outcome.

@arcsheridan 

[arcsheridan]

Thank you